QUESTION 1

1. If you borrow $18,000 at 3.2% compounded quarterly how much will you need to pay back the entire loan after 4 years and 5 months?

5 points

QUESTION 2

1. Brittany deposited $36,000 into an account that was earning 4.5%compounded quarterly.After 5.8 years the interest rate changed to 4% compounded monthly.How much will Brittany have in the account 5yearsafterthe interest rate changed?

8 points

QUESTION 3

1. What nominal rate of interest compounded quarterly is needed for $41,250 to accumulate to $60,847 in six and a half years?
2. (round to three decimal places of a percent)

5 points

QUESTION 4

1. Debts of $32,645 due 2 years ago and $43,748 due in 14 months from today are to be replaced with a payment of $50,750 in three months from toady and the remaining amount in 9 months from today. Determine the size of the unknown payment needed to clear the debts if money is worth 6.3% compounded quarterly. Use 9 months from today as a focal date and draw a timeline if needed.

10 points

QUESTION 5

1. How much will you need to invest today to accumulate $625,000 in 20 years if the account pays 5.1% compounded semi-annually?

5 points

QUESTION 6

1. How many years will it take for $50,100 to accumulate to $99,380.42 in an accountant that is paying 8.1% compounded quarterly? (round years to 2 decimal places)